(Boursier.com) — In the first half of 2022, the Group’s revenue Guillemot is up 39% to 98.1 million euros. The Group achieved sales of 42.2 million euros in the second quarter, up 22% compared to the second quarter of 2021.
The Group maintained a good commercial momentum throughout the second quarter with growing sales in all geographic areas, and a stronger trend in Asia-Pacific. The strong growth in the Group’s sales in the United Kingdom has enabled it to consolidate its position in its various product categories.
The level of the accounting gross margin rate stood at 58% compared to 55% in the first half of 2021.
Over the period, the Group’s workforce has increased by 10% since the beginning of the year, and the Group has implemented
sales promotion and marketing programs to enhance business growth. All costs are up by 26%, in line with the 39% increase in turnover.
Operating income amounted to €25 million compared to €13.3 million at June 30, 2021, up 88%, representing an operating margin rate of 25.5%, and reflects the operating performance of the ranges Thrustmaster racing wheels.
The financial result is -0.9 million euros and contains an unrealized loss of 0.5 million euros linked to the fall in the valuation of the Ubisoft Entertainment SA securities portfolio. Consolidated net profit amounted to 18.1 million euros.
In the first half of 2022, the Group built up buffer stocks to overcome the shortage of electronic components and support business growth. In this context, the net inventory value stood at 51 million euros at June 30, 2022, up 25% compared to December 31, 2021. The working capital requirement was down by 12.1 million euros. euros over the first half of the financial year.
Research and Development costs capitalized on the balance sheet increased by €1.1 million as of June 30, 2022 and amounted to €6.6 million.
The group has implemented additional actions to anticipate its deliveries as much as possible and optimize the
coordination of its operations around the world. Over this semester, the Group is adapting and strengthening its global organization
Trade-Marketing to take into account the new challenges of eCommerce and the need to increase its visibility
promotion with its partners, and thanks to these actions, it has seen very encouraging results, enabling Hercules and Thrustmaster to maintain a dynamic of gaining market share.
Outlook
The end of the year for the Group will be rich with the release of major new products. The Group’s flywheel market shares
increased over the July-August period in the United States and Europe.
The Group expects revenue and operating income to grow in 2022.
The year 2023 promises to be lively with significant video game news and the rise of new
products.
The Group feels confident that it will maintain growth in the years to come, with the boom in eSports and
car racing and flight simulation…